Gold prices today remained on an upward trend, rising for the third day amid buying by local jewellers to meet festive season demand. Higher global gold prices also supported domestic rates. Gold rates today advanced by Rs 130 to Rs 32,780 per 10 grams.
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Gold Prices Today Rise to 6 Year High But Silver Edges Lower
Gold Silver Reports (GSR) – Some traders however fear that higher prices could hit demand for gold during this festive season.
Why Gold Prices Are Rising
Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the US economy may tumble back into recession.
Spot Gold Weekly Technical Outlook – 29-Oct-2018
Technical Outlook – Technical Outlook: In our last Gold Weekly Technical Outlook, we continued to highlight a critical resistance confluence at $1238/1243, “a region defined by the 38.2% retracement of the yearly range, the 100% extension of the advance off the August low, the December swing low and the long 200-week moving average.” Price is testing this zone now and a weekly close above is needed to keep the immediate long-bias viable.
Gold Prices Slip Further But Still Near 6-Year High
New Delhi: Falling for the second straight day, gold prices on Saturday edged lower by Rs 40 to Rs 32,550 per 10 grams at the bullion market amid tepid demand from local jewellers and a weak trend overseas. But gold prices still remained near six-year high levels.